Los Angeles, California-based RIA Signature Estate & Investment Advisors (SEIA) has set out ambitious expansion plans and is set to launch a new range of ESG model portfolios.
The firm just opened an office in San Francisco, California and plans to add another in Houston, Texas over the next few months, according to Joe Fusaro, director of operations at SEIA.
‘If you find the right fit in an advisor and they have the ability to build their own business, then we want to be there to support them and help them out, so that looks like something that will come in the next few months,’ he said.
In addition to its headquarters, the firm has offices in Tyson Corner, Virginia and four more offices throughout California in Newport Beach, Pasadena, Redondo Beach and San Mateo.
‘We want to build, we want to grow and get more clients, and eventually, we want to get a junior advisor and a client service person out there but all of the major operations are always here in our headquarters,’ Fusaro said.
SEIA has around $8 billion in assets under management and 18 advisor teams, each with two to four members. It primarily caters to high-net-worth clients who have a minimum of $250,000 to invest.
Fusaro told Citywire the firm planned to roll out a new suite of ESG model portfolios toward the end of the summer.
‘This is something we’ve been working on, really developing, researching and spent a lot of time on,’ he said. ‘We’re just about ready to roll it out in about a month or two. We wanted to make sure that if we were going to do this, we’d do it right. It’s something we’ve been really excited about and clients have been asking [for].’
The firm currently has one set of models made up of eight portfolios ranging from all fixed income to all equity, populated by funds and ETFs, which the firm’s 10-person investment committee recommends.
According to SEIA chief investment officer and head of the investment committee Deron McCoy, the firm has offered ESG portfolios on an individual customized basis to clients for a few years but this will be the first time there will be preset ESG models.
‘By having preset portfolios, like-minded clients can pool their votes together and it will be managed on a daily basis, wherein a discretionary setting, we can make moves for the product as a whole and make an impact,’ he said.
The models will be comprised of eight to 12 funds and ETFs from big-name providers like Calvert, iShares, Dimensional Fund Advisors and Vanguard.
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